Bitcoin Records 8 Consecutive Daily Gains, First in Four Years

Odaily News Bitcoin has risen for eight consecutive trading days, marking the first such streak in nearly four years. Data shows that historically, similar continuous upward trends have continued to rise in about 60% of cases within the following 30 days, with a median gain of approximately 19%.

This round of gains began on March 9, with the price of Bitcoin gradually climbing from around $68,000 to above $75,000. Analysis points out that this trend is related to capital inflows against the backdrop of recent geopolitical tensions in the Middle East.

However, the market also cautions to remain vigilant. Historically, similar consecutive gains have also occurred during bear market phases. For example, after an 8-day winning streak around the same period in 2022, the price fell by about 30% within the following 30 days. The market is currently still in the contraction phase of Bitcoin's four-year halving cycle. (CoinDesk)